High Tide Inc., a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, announced today that its Canna Cabana retail cannabis store located at 905 Rymal Road East in Hamilton, Ontario, has begun selling recreational cannabis products for adult use. This opening represents High Tide’s 106th branded retail location across Canada, and 32nd in Ontario, selling recreational cannabis products and consumption accessories. After the launch of two successful locations, this is the 3rd Canna Cabana store in Hamilton, which anchors Ontario’s 3rd-biggest metropolitan area. The new Canna Cabana store is located in a retail plaza anchored by a national discount grocery store chain and is easily-accessible from numerous surrounding residential communities and employment centres.
The Company is also providing an update on the growth of its Cabana Club loyalty program, which has expanded from approximately 245,000 members at the time of the launch of High Tide’s innovative discount club concept on October 20, 2021, to 359,484 members today. This represents a growth rate of nearly 47% in under three months’ time.
“Today, I am pleased to announce the first of many new store openings that we have planned for 2022,” said Raj Grover, President and Chief Executive Officer of High Tide. “2021 was a banner year for High Tide’s growth, and we will continue to build upon that momentum over the next 12 months. This will include strategically expanding our bricks-and-mortar retail footprint in Canada to at least 150 locations through continued organic growth and accretive acquisitions, with a particular focus on underserved locations in Ontario and British Columbia. I also look forward to sharing the progress that we have made since the launch of our innovative discount club concept when we announce our fourth quarter results at the end of the month. Furthermore, I am delighted to see that our Cabana Club loyalty program continues to exceed our expectations,” added Mr. Grover.
ABOUT HIGH TIDE
High Tide is a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets. The Company is the largest Canadian retailer of recreational cannabis as measured by revenue, with 106 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan, and was featured in the third annual Report on Business Magazine’s ranking of Canada’s Top Growing Companies in 2021. The Company is also North America’s first and only cannabis discount club retailer, featuring Canna Cabana, Meta Cannabis Co., and Meta Cannabis Supply Co. banners, with additional locations under development across the country. For more information about High Tide Inc., please visit www.hightideinc.com,
